Imports and exports are the terms used to describe the goods and services traded between nations. Imports Countries import goods that they cannot produce domestically, or that companies can supply to these countries at a higher quality or lower cost. The term can also apply to services rendered to residents of one country from non-residents. Even tourists fall under a loose definition of providing an imported service through the investment they make in hotels, restaurants and attractions. Import statistics can be difficult to track, because of varying definitions and inaccurate coverage. Most of the data collected comes from declarations to custom services. However, these would not account for goods imported to one member nation from another in the European Union (EU), since such products may be moved without customs controls. According to the World Trade Organization, the United States is the world’s largest importer (based on capital investment), followed by the EU, China, Germany and Japan. Exports Exports, simply put, are goods or services produced locally and sold abroad. This may be done as a way to boost the producing nation's gross output, or in exchange for more desired products or services. China has been the world's largest exporter of goods since 2009. Official estimates suggest Chinese exports amounted to $1.904 trillion in 2013. This represents a significant reversal of policies in place for much of that nation’s history, when a more protectionist stance was taken in trading policies. The EU ranks second in exports, followed by the United States, Germany and Japan.
WTO Forecasts Africa’s Export Surge Amid Global Trade Recovery in 2024
According to the latest trade outlook from the World Trade Organisation (WTO), Africa is poised to experience the fastest export… Read More
Port of Long Beach Has Best October in Eight Years
The docks continued to be busy at the Port of Long Beach in October as cargo volume rose 6.3 percent… Read More
China Issues New Regs for Drone Exports
China is curbing its exports of advanced drones in an effort to gain tighter control over technologies linked to national… Read More
Trans-Pacific Partnership: Where do the Presidential Candidates Stand?
Although the Obama administration released the full text of the Trans-Pacific Partnership deal only last week, most of the presidential… Read More
Mallory Alexander International Logistics Expands Asia Footprint
Mallory Alexander International Logistics has been granted a Class A forwarder’s license by the government of China for operations centered… Read More
British and Canadian Company Enter Joint Venture for Cuban Import/Export Business
Leni Gas Cuba Limited, a Cuban-specialist investment company, and Groombridge Trading Corporation have formed a new unincorporated 50/50 joint venture… Read More
LDCs Welcome Progress on Preferential Treatment for Services
Least-developed countries (LDCs) welcomed what they said were real efforts by members of the World Trade Organization to provide LDC… Read More
Tobacco-State Politicians: Grow Up and do the Right Thing on TPP
If Republican senators from tobacco-growing southern states believe in social responsibility, they would fully explore the Trans-Pacific Partnership (TPP), including… Read More
Export-Import Bank is Not Corporate Welfare
The U.S. House of Representatives has passed, and the U.S. Senate is considering, a bipartisan bill to re-open the Export-Import… Read More
China’s Financial Data Contributes to Decline in Economic Confidence of U.S. CEOs
The YPO Global Pulse Index of CEO economic sentiment for the United States continued its steady fall with a decline… Read More
Free Trade Agreements Not Utilized By 70 Percent of Companies
A new survey of trade specialists from multi-national corporations found that 70 percent of companies are not fully utilizing foreign… Read More
United States and India Conclude Ninth Trade Policy Forum
U.S. Trade Representative Ambassador Michael Froman and Minister of Commerce and Industry of India Nirmala Sitharaman met in Washington last… Read More
« Previous 1 … 204 205 206 207 208 … 224 Next »